Warning: Beware of Clone Firm Impersonating FCA Authorised Firm
The Financial Conduct Authority (FCA) is issuing a stern warning against dealing with an unauthorised firm known as London Capital Group Southern IB.
This firm is a clone, mimicking an FCA-authorised entity to mislead and exploit consumers.
Clone Firm Details
Fraudsters behind this clone firm are using an assortment of contact methods to deceive individuals:
- Name: London Capital Group Southern IB (Clone of FCA authorised firm)
- Phone: +60126134466
- Email: mentorsahamglobal@gmail.com
- Social Media Details: Facebook – PoweredByLCGMalaysia (www.facebook.com/PoweredByLCGMalaysia)
Scammers may change their contact details frequently and mix false information with that of legitimate firms.
Genuine Firm Details
The actual, FCA-authorised firm being impersonated, London Capital Group Ltd, has no connection with the fraudulent clone:
- Firm Name: London Capital Group Ltd
- Firm Reference Number: 182110
- Address: 2nd Floor, 75 King William Street, London, City Of London, EC4N 7BE, UNITED KINGDOM
- Telephone: 4402074567020
- Email: compliance@lcg.com
Implications for Consumers
Interacting with the clone firm London Capital Group Southern IB could lead to significant risks:
- Lack of protection by the Financial Ombudsman Service
- No coverage by the Financial Services Compensation Scheme (FSCS)
- Potential loss of funds with no recourse for recovery
How to Protect Yourself
To safeguard your interests, always verify the authenticity of financial firms:
- Consult the FCA’s Financial Services Register
- Confirm the firm’s authorisation and permissions for the services offeredUse contact details found on the FS Register for any communications
If contacted unexpectedly, be cautious and double-check using official channels.
Report a Clone Firm
If you suspect interaction with a clone or unauthorised firm, contact the FCA immediately:
- Phone: 0800 111 6768
- Use the FCA contact formStay vigilant and always ensure that you are dealing with an FCA-authorised firm to avoid falling victim to financial scams.
For more details, visit the official warning page on the FCA’s website
